The bullet point previously sounded as if the long script was only stored in the UTXO set when not using P2SH, and stored on the blockchain when using P2SH. This might lead to people thinking it might lead to a smaller blockchain when the script is stored in the UTXO set *instead* of on the blockchain. But without P2SH the long script was stored both in the UTXO set *and* on the blockchain. With P2SH it's only stored on the blockchain, which is a clear advantage over not using P2SH.pull/443/head
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